Answer:
Answers are given below.
Explanation:
Advantages of keeping the strategic-planning process of a firm secret
1. The flaws or challenges of the firm will not be known to the general public or the firm's competitors.
2. The great ideas in the strategic plan will be known only to members of this firm. No other firm will be able to 'steal and quickly implement' these great ideas.
NOTE: The opposites of these statements are same as the disadvantages of making the strategic-planning process public.
Disadvantages of keeping the strategic-planning process of a firm secret
1. Placing the firm's strategic plan on the corporate website will improve the confidence of clients or customers in them. Clients and customers will view the firm as transparent and will also feel informed about the firm's activities.
2. Discussing strategies and planning publically will fetch the firm some good ideas from the public, and also some new customers or clients.
NOTE: These statements are same as the advantages of making the strategic-planning process public.
A company purchased property for a building site. The costs associated with the property are given below.
Purchase price = $175,000
Real estate commissions = $15,000
Legal fees = $800
Expenses of clearing the land = $2,000
Expenses to remove old building = $1,000
1. What portion of these costs should be allocated to the cost of the land and what portion should be allocated to the cost of the new building?
2. Prepare the journal entry to record these costs.
Answer:
1. Land $193,800
Building $0
Explanation:
1. Calculation to determine what portion of these costs should be allocated to the cost of the land and what portion should be allocated to the cost of the new building
Purchase price $175,000
Real Estate commissions $15,000
Legal fees $800
Expenses of clearing the land $2,000
Expenses to remove old building $1,000
Total $193,800
Therefore the total cost of the land is $193,800 and NO cost will be allocated to the cost of the new BUILDING
2. Preparation of the journal entry to record these costs
Dr Land A/c $193,800
Cr Cash A/c $193,800
(Being land purchased for cash and the associated expenses being recorded)
Journal Entries Exercise Transactions
a. Feb 03 Owner invested $13,000 into the business
b. Feb 07 Paid rent of $1,500
c. Feb 10 Bought $9,500 of equipment with $6,700 cash and owes $2,800 (on account)
d. Feb 12 Ordered and received $870 for a month of supplies
e. Feb 16 Earned $5,800 in client fees to be collected (on account)
f. Feb 17 Paid salaries $3,450
g. Feb 23 Paid phone expense $210
h. Feb 25 Received $2,550 in cash from client in cash from the business.
Answer and Explanation:
The journal entries are shown below:
a. Cash dr $13,000
To owner equity $13,000
(Being invested amount is recorded)
b. rent expense $1,500
To cash $1,500
(being cash paid)
c. Equipment $9,500
To cash $6,700
To account payable $2,800
(being equipment purchase on cash and on account)
d. Supplies Dr $870
to account payable $870
(being supplied ordered)
e. account receivable Dr $58,00
to client fees $5,800
(being account receivable is recorded)
f. salaries expense $3,450
To cash $3,450
(being cash paid)
g. phone expense $210
To cash $210
(being cash paid)
h. Cash Dr $2,550
to account receivable $2,550
(being cash received)
pls help with business (extra points)
Answer:
The easiest business to start is a service business, especially for a beginner. A service business is any kind of business where you sell services. In other words, you sell your skill, labor or expertise — instead of products or goods
Explanation:The easiest business to start is a service business, especially for a beginner. A service business is any kind of business where you sell services. In other words, you sell your skill, labor or expertise — instead of products or goods
In technical analysis, __________ is a value below which the market is relatively unlikely to fall. a. book value b. resistance level c. support level d. the Dow line
Answer:
C)Support level
Explanation:
Technical analysis in domain of finance can be regarded as analysis methodology that is used to forecast the direction that a prices moves, and this is done by studying past market data, these data's are primarily data for price and volume. In technical analysis, the chart for support level can be made by drawing a line which move along the lowest lows for that particular time period under consideration. Support level can be regarded as the price level that stays and a particular
asset does not fall below this level for particular period of time.
It should be noted that In technical analysis, Support level is a value below which the market is relatively unlikely to fall.
The inventory data for an item for November are: Nov. 1 Inventory 23 units at $24 4 Sale 9 units 10 Purchase 29 units at $25 17 Sale 22 units 30 Purchase 22 units at $26 Using a perpetual system, what is the cost of merchandise sold for November if the company uses LIFO
Answer:
766
Explanation:
Calculation to determine the cost of merchandise sold for November if the company uses LIFO
Cost of merchandise sold = (9*24) + (22*25)
Cost of merchandise sold= 216 + 550
Cost of merchandise sold=766
Therefore the cost of merchandise sold for November if the company uses LIFO is 766
A change management process establishes an orderly and effective mechanism for submission, evaluation, approval, prioritization, scheduling, communication, implementation, monitoring, and organizational acceptance of change.
a. True
b. False
Each month's ending finished goods inventory should be 40% of the next month's sales. March 31 finished goods inventory is 172 units. A finished unit requires five pounds of direct material B at a cost of $3.00 per pound. The March 31 Raw Materials Inventory has 280 pounds of B. Each month's ending Raw Materials Inventory should be 30% of the following month's production needs. The budgeted production for May is:
Answer:
478 units
Explanation:
Calculation to determine what The budgeted production for May is:
First step
Ending inventory= (40% * 490)
Ending inventory=196
Second step
Beginning inventory= (40% * 470)
Beginning inventory= 188
Now let determine the budgeted production for May budgeted production
= 470 + 196 - 188
May budgeted production= 478 units to produce
Therefore The budgeted production for May is:478
Carol received a gift of stock from her favorite uncle. The stock had a fair market value of $30,000 and a basis to the uncle of $10,000 at the date of the gift. How much is taxable to Carol from this gift
Answer: $0
Explanation:
According to the internal revenue code, it should be noted that under 102(a), in the gross income, the cake if a property that's being acquired by gift isn't included.
Therefore, in this scenario, Carol received a gift of stock from her favorite uncle. The stock had a fair market value of $30,000 and a basis to the uncle of $10,000 at the date of the gift, then Carol isn't liable to pay any tax on the gift.
Given the following data: Beginning raw materials inventory $30,000 Materials purchased 65,000 Ending raw materials inventory 40,000 What is the amount of raw materials used? a.$5,000 b.$55,000 c.$30,000 d.$75,000
Answer:
Option "b"$55000 is correct.
Explanation:
Below is the given values:
Starting raw material = $30000
Pruchased material = $65000
Raw material at the end = 40000
Now calculate the raw material used:
Raw material used = Starting raw material + purchases - ending raw material
Raw material used = 30000 + 65000 - 40000
Raw material used = 95000 - 4000
Raw material used = $55000
Thus option "b"$55000 is correct.
You are buying a laptop and there is two payment plans to consider. Payment plan A is to pay $4,900 now and payment plan B is to pay $500 now and pay $210.30 per month for 30 months. Using an interest of 24%, which payment plan do you choose
Answer: Plan A has a lower present value and should be chosen.
Explanation:
Choose the one that has the lower present value because that means that it would be cheaper.
Present value of plan A = $4,900
Present value of plan B
= $500 + Present value of $210.30 per month for 30 months
$210.30 is constant so it is an annuity.
Periodic interest rate = 24%/12 = 2%
Present value of annuity = Annuity * ( 1 - (1 + rate)^-number of periods) / rate
= 210.30 * ( 1 - (1 + 2%)⁻³⁰) / 2%
= $4,709.97
Present value of plan B = 500 + 4,709.97
= $5,209.97
Choose Plan A because it has a lower present value.
DESC
1. How much time, in seconds, does it take to complete one cycle of 60 Hz electric power?
A. 1 second
B. 1/60 second
c./3 second
D. V/120 second
Answer:
[tex]B) \ \frac{1}{60} \ second[/tex]
Explanation:
Given;
frequency, F = 60 Hz
number of cycles, n = 1
Frequency is defined as the number of complete cycles per seconds.
Mathematically, it is expressed as follows;
[tex]F = \frac{n}{t} \\\\where;\\t \ is \ the \ time \ taken \ to \ make \ the \ complete \ cycle \ (seconds)\\\\t = \frac{n}{F} \\\\t = \frac{1}{60} \ second\\\\The \ correct \ answer \ is \ \ (B) \ \frac{1}{60} \ second[/tex]
Therefore, the time taken to make a cycle of 60 Hz is ¹/₆₀ s
Your neighbor, Bayonetta, offers you an investment opportunity which will pay a single lump sum of $2,150 four years from today. The investment requires a single payment of $1,100 today. What is the annual rate of return on this investment
Answer:
18.24%
Explanation:
Annual rate of return is used in determining the return on an investment over a 12 month or one year period.
Annual rate of return = [(future value / cost ) ^( 1/n) ] - 1
future value = 2150
present cost = 1100
n = number of years = 4
(2150 / 1100)^(1/4) - 1 = 0.1824 = 18.24%
Describe the main procedures of running a successful meeting
The Three Rules of Running a Meeting. Set the Agenda. ...
Control the Meeting, Not the Conversation. Let Them Speak. ...
Make Meetings Essential. Do a Meeting Audit.
Delta Diamonds uses a periodic inventory system. The company had five one-carat diamonds available for sale this year: one was purchased on June 1 for $500, two were purchased on July 9 for $550 each, and two were purchased on September 23 for $600 each. On December 24, it sold one of the diamonds that was purchased on July 9. Using the FIFO method, its ending inventory (after the December 24 sale) equals:_______
A. $2,200.
B. $2,300.
C. $2,800.
D. $2,250.
Answer:
B. $2,300.
Explanation:
The computation of the ending inventory using FIFO method is given below:
Since there are 5 diamonds and one is sold
So, the ending inventory units should be
= 5 - 1
= 4
Now the ending inventory be
= 2 × $600 + 2 × $550
= $1,200 + $1,100
= $2,300
Hence, the option b is correct
Maria is 30 years old and has a nest egg of $25,000 that she worked hard to save
through her twenties. She would like to invest the money in order to have a down
payment for a home by the time she is 35.
How would you recommend Maria invest her money?
Answer:
Since Maria is 30 years old and has a nest egg of $ 25,000 that she worked hard to save through her twenties, and she would like to invest the money in order to have a down payment for a home by the time she is 35, I I would give her the following recommendation:
Given that the S&P 500 index fund has an average annual return of 10% to 15%, with positive returns almost guaranteed and considerably low risk, and that Maria has money that is not an excessively high amount and wants to allocate it For a purpose that implies the need for a certain investment security, I would recommend investing that sum in the aforementioned index fund.
You are holding a stock that has a beta of 1.91 and is currently in equilibrium. The required return on the stock is 25.60%, and the return on the market portfolio is 17.10%. What would be the new required return on the stock if the return on the market increased to 21.00% while the risk-free rate and beta remained unchanged
Answer:
Hence the new required return on the stock if the return on the market increased to 21.00% while the risk-free rate and beta remained unchanged is 33.05%.
Explanation:
a.If the economy currently has a frictional unemployment rate of 2 percent, structural unemployment of 2 percent, seasonal unemployment of 0.5 percent, and cyclical unemployment of 2 percent, what is the natural rate of unemployment
Answer: 4%
Explanation:
The natural rate of unemployment is the sum of the frictional and structural unemployment rate because these represent the unemployment that a country would still experience even if it was at full employment and the actual GDP was equal to its Potential GDP.
Natural unemployment rate = Frictional unemployment + Structural unemployment
= 2% + 2%
= 4%
Williams Company computed its cost per equivalent unit for direct materials to be $1.60 and its cost per equivalent unit for conversion to be $2.58. A total of 374,000 units of product were completed and transferred out as finished goods during the month. The ending Work in Process inventory consists of 22,000 equivalent units of direct materials and 22,000 equivalent units of conversion costs. The amount that should be reported in ending Work in Process Inventory is:
Answer:
the ending work in process inventory is $91,960
Explanation:
The computation of the ending work in process inventory is given below:
= cost of material + conversion cost
= 22,000 × $1.60 + 22,000 × $2.58
= $35,200 + $56,760
= $91,960
Hence, the ending work in process inventory is $91,960
The same should be considered and relevant
Explain two primary exceptions to the rule of definiteness as it pertains to quantity terms of an agreement.
Answer:
1 - Advertisements are not offers.
2 - There should be acceptance of offer to be enforceable.
Explanation:
The court decides a case base on its facts. There are various cases where there is lack of evidence and then the court has to decide based on assumptions. The rule of definiteness is that there should be clear communication about the terms of the contract. The terms should not be vague and they should be definite.
MC Qu. 116 CWN Company uses a job order costing... CWN Company uses a job order costing system and last period incurred $90,000 of actual overhead and $100,000 of direct labor. CWN estimates that its overhead next period will be $65,000. It also expects to incur $100,000 of direct labor. If CWN bases applied overhead on direct labor cost, its predetermined overhead rate for the next period should be:
Answer:
65%
Explanation:
Calculation to determine its predetermined overhead rate for the next period should be:
Using this formula
OH rate = Estimated overhead next period/direct labor
Let plug in the formula
OH rate = $65,000/$100,000
OH rate = 65%
Therefore If CWN bases applied overhead on direct labor cost, its predetermined overhead rate for the next period should be: 65%
Koczela Inc. has provided the following data for the month of May:
Inventories:
Beginning Ending
Work in process $22,000 $17,000
Finished goods $51,000 $55,000
Additional information:
Direct materials $62,000
Direct labor cost $92,000
Manufacturing overhead cost incurred $68,000
Manufacturing overhead cost applied to Work in Process $66,000
Any underapplied or overapplied manufacturing overhead is closed out to cost of goods sold. The cost of goods manufactured for May is:
a. $229,000
b. $234,000
c. $231,000
d. $236,000
Answer:fvfvvff
Explanation:
An individual or a firm can internalize an externality by ___________. A. disputing that an externality exists. B. doubling the size of the externality. C. paying the cost of the externality. D. ignoring the externality.
Answer:
C. paying the cost of the externality
Explanation:
An externality is defined as cost or benefit that is generated from the activities of a producer, but it is not financially incurred by the producer.
It can be positive or negative externality.
For example if we have a street light the effect on the society does not affect the producer cost wise so it is an externality to him.
When a producer now bears the cost of an externality he is internalizing the externality.
For example if a company polluted the environment with a byproduct of its production process this is a negative externality.
They can internalise it by cleaning up the pollutant from the society.
Determine the amount to be paid in full settlement of each purchase invoice, assuming that credit for returns and allowances was received prior to payment and that all invoices were paid within the discount period. Merchandise Freight Paid Returns and by Seller Freight Terms Allowances a. $11,000 $260 FOB shipping point, 1/10, net 30 $1,100 b. $4,200 $101 FOB destination, 2/10, net 45
Answer:
a. The total cost is:
= ((Cost of goods - Returns) * discount factor) + Freight paid by seller
= ( (11,000 - 1,100) * (1 - 1%)) + 260
= 9,900 * 99% + 260
= $10,061
Note: When shipping is FOB Shipping point, freight is paid by buyer. Discount terms of 1/10 means that a discount of 1% is allowed if settlement is done within 100 days.
b. Total Cost is:
= ( Cost of goods - Returns) * Discount factor
= 4,200 * (1 - 2%)
= $4,116
Note: When shipping is FOB Destination, freight is not paid by buyer. 2/10 discount means 2% discount if settled in 10 days.
A rich relative has bequeathed you a growing perpetuity. The first payment will occur in a year and will be
Answer:
1. $25,000
2. $27,000
Explanation:
Here is the complete question :
A rich relative has bequeathed you a growing perpetuity. The first payment will occur in a year and will be $1000. Each year after that, you will receive a payment on the anniversary of the last payment that is 8% larger than the last payment. This pattern of payments will go on forever. If the interest rate is 12% per year,
a. what is today’s value of the bequest?
b. what is the value of the bequest immediately after the first payment is made?
a. Value today = value of payment /( interest rate - growth rate)
$1000 / (12% - 8%)
$1000 / (0.12 - 0.08)
$1000 / 0.04
= $25,000
b. Value today = [value of payment x ( 1 + growth rate)] /( interest rate - growth rate)
(1000 x 1.08) / (0.12 - 0.08)
1080 / 0.04
= 27,000
What are the challenges that Vietnamese Businesses Face Due to Warehouse Locations in Industrial Parks
The challenges that Vietnamese businesses have to face or facing due to the warehouse locations are described below. Firstly we have to describe the warehouse locations.
The Warehouse locations in Industrial parks:
Vietnam has designated and developed several office buildings as well as regions throughout order to attract foreign investors. Vietnam's development projects are located throughout the kingdom's northwestern part.
Warehouse placement across the industrial parks presents several challenges such as:
As of now, the coordinating structure has always been in the creation stage. Supplementary time is required for coordinates.It seems to have a direct influence on either the accumulation as well as transportation, and perhaps even the expense of the action itself.Learn more about Vietnamese businesses here:
https://brainly.com/question/11337644
in a survey of companies, it was found that 45 were in the mining sector, 72 were in
the financial sector, 32 were in the IT sector and 101 were in the production sector,
Answer:
0.288
0.308
Explanation:
Given :
Mining sector = 45
Financial sector = 72
IT sector = 32
Production sector = 101
Total number of companies :
(45 + 72 + 32 + 101) = 250
A.)
Probability that a randomly selected company is in the financial sector
Recall :
Probability = required outcome / Total possible outcomes
P(company = financial) = (number of companies in financial sector / total number of companies)
P(company = financial) = 72 / 250 = 0.288
B.)
Company is either a mining or IT company :
P(company = Mining or IT) = (number of mining + number of IT Companies) / total number of companies
P(company = Mining or IT) = (45 + 32) / 250 = 77 / 250 = 0.308
In applying the lower of cost or market method to LIFO inventory valuation, market is defined as: A. Historical cost. B. Current replacement cost. C. Current sales price. D. FIFO. E. LIFO.
Answer:
b
Explanation:
LIFO means last in first out. It means that it is the last purchased inventory that is the first to be sold.
FIFO means first in, first out. It means that it is the first purchased inventory that is the first to be sold
Copyrights, trademarks, and other intangible assets are expensed over their useful lives through the process of: Multiple choice question. depreciation depletion impairment amortization
Answer:
Amortization
Explanation:
Amortization is an accounting technique that is applied for lowering the book value or for an intangible asset for a period of time. It is same as depreciation as depreciation is to be charged over the tangible fixed asset such as building, furniture, etc
But the amortization should be charged on the intangible assets like copyrights, trademarks etc
What skills influence a manager's ability to work well with people.
Question 1 options:
a)
Conceptual
b)
Professional
c)
Interpersonal
d)
Technical
e)
Decisional
Marion Cosmetics decides to launch a cream with a claim that it makes skin "10 times smoother and reduces wrinkles by 90%. The claim is based on a study of 30 respondents who used products of other brands as well. However, a second study on a larger sample reveals only a mild correlation between the use of the cream and smoother skin and reduction in wrinkles.
Required:
In these circumstances, what is the most ethical approach that Marion Cosmetics can follow?
Answer:
It should report the result as it is, or improve the product to match its claim.
Explanation:
In the given situation, it is mentioned that cosmetics decided to introduce the cream with a claim that it makes the skin ten times smoother and decreased wrinkles by 90% also it is depend upon the 30 respondents
But the second study shows that there is a large correlation lies between the usage of the cream & smoother skin & decrease in wrinkles
So the most ethical approach is that it should be reported in the same way or it can be improved the product in order to match its claim
